PancakeSwap Perps¶

Connector for PancakeSwap Perps (ApolloX Diamond) on BSC. PancakeSwap is broker id 2 on the underlying ApolloX (ASX) perpetual trading platform.

Overview¶

PancakeSwap Perps is an oracle-priced margin trading venue. The Almanak SDK integrates it through the intent system, supporting PERP_OPEN (full pipeline) and PERP_CLOSE (direct-SDK in v1).

The router is a Diamond proxy (EIP-2535) at 0x1b6f2d3844c6ae7d56ceb3c3643b9060ba28feb0. Trade-path facets: TradingPortal (open/close), TradingOpen / TradingClose (keeper settle), TradingReader (views), PriceFacade (keeper entry).

Market Format¶

Markets use the same slash separator convention as GMX V2: "BTC/USD", "ETH/USD", "BNB/USD". Each market resolves to a pairBase BSC ERC-20 address (e.g. BTCB, ETH-bsc, WBNB).

Intent.perp_open(
    market="BTC/USD",
    collateral_token="BNB",          # native BNB margin (auto-wraps to WBNB)
    collateral_amount=Decimal("0.3"),
    size_usd=Decimal("500"),
    is_long=True,
    leverage=Decimal("1.5"),
    max_slippage=Decimal("0.01"),
    protocol="pancakeswap_perps",
)

Supported Operations¶

Intent	Description
`Intent.perp_open()`	Open a leveraged long or short position
`Intent.perp_close(position_id=<tradeHash>, ...)`	Close a position by its bytes32 `tradeHash`. v1 accepts full closes only: `size_usd` (partial close) is rejected at compile time (`CompilationStatus.FAILED`). Strategies persist the `tradeHash` emitted at open and pass it back as `position_id`. `build_close_transaction(trade_hash)` remains available as a direct-SDK escape hatch, but the intent-compiler path is the recommended flow.

Keeper Execution Model¶

PancakeSwap Perps uses a two-step oracle-fill execution model (similar in shape to GMX V2 but driven by Pyth on mainnet):

Pending trade creation — your transaction calls openMarketTrade / openMarketTradeBNB, which emits a MarketPendingTrade(user, tradeHash, trade) event. This is the transaction the SDK signs and submits.
Keeper settlement — an off-chain keeper holding PRICE_FEEDER_ROLE subsequently calls PriceFacadeFacet.requestPriceCallback(priceRequestId, price) (or its Pyth-VAA variant). This invokes marketTradeCallback internally, which either fills the position (OpenMarketTrade event) or refunds it (PendingTradeRefund event) based on slippage / oracle gap checks.

Close follows the same shape: closeTrade(tradeHash) emits a pending close request; keeper settles via closeTradeCallback, emitting CloseTradeSuccessful(user, tradeHash, closeInfo) and one or more CloseTradeReceived(user, tradeHash, token, amount) payout events.

Implications for strategies:

on_intent_executed(success=True) fires when the pending TX confirms, not when the keeper settles. The strategy must persist the tradeHash and poll for fill confirmation on subsequent ticks via getPositionByHashV2(tradeHash).
Extraction shape: ResultEnricher.position_id only accepts integer NFT IDs or 40-char hex addresses, so a 64-hex-char bytes32 tradeHash is surfaced on result.extracted_data["position_id"] rather than result.position_id. Strategies should prefer result.position_id and fall back to result.extracted_data["position_id"]:
```
position_id = getattr(result, "position_id", None)
if position_id is None:
    position_id = (result.extracted_data or {}).get("position_id")
```
Filled entry_price is only available after keeper settlement (a separate TX), so extract_entry_price() returns None from the open TX's receipt.
The slippage-to-limit-price conversion must produce a fill bound that the keeper considers acceptable AND is within highPriceGapP (1.5% as of v1) of the on-chain oracle's cached beforePrice.

Minimum Position Size¶

ApolloX enforces TradingConfig.minNotionalUsd (200 USD as of v1) on every open. Notional is computed as price (1e8) × qty (1e10) ÷ 1e18. Strategies opening positions below this floor will revert at the synchronous open call with TradingCheckerFacet: Position is too small.

Collateral Tokens¶

Chain	Supported Margin
BSC	BNB (native, via `openMarketTradeBNB`), WBNB, USDT, USDC

For native BNB margin, the SDK routes through openMarketTradeBNB with the margin sent as msg.value; the router wraps it to WBNB inside the transaction (verifiable in the receipt's WBNB Deposit event). For ERC-20 margin, the intent compiler prepends an approve() transaction.

Markets (v1)¶

Market	pairBase (BSC)
BTC/USD	`0x7130d2A12B9BCbFAe4f2634d864A1Ee1Ce3Ead9c` (BTCB)
ETH/USD	`0x2170Ed0880ac9A755fd29B2688956BD959F933F8` (ETH-bsc)
BNB/USD	`0xbb4CdB9CBd36B01bD1cBaEBF2De08d9173bc095c` (WBNB)

ApolloX also lists synthetic equity markets (NVDA, TSLA, etc.) with ApolloX-issued pairBase contracts. These are out of v1 scope pending gateway-side equity-oracle support; see the design doc follow-ups.

Known Limitations¶

Keeper delay: Position state is not immediately available after the open call. Wait for the keeper-settled OpenMarketTrade event before relying on filled position data.
Refunds: If the keeper-quoted oracle price violates the trader's acceptable price (slippage limit), the keeper emits PendingTradeRefund instead of OpenMarketTrade, and the trader's margin is returned. Your strategy must handle this case (poll getPendingTrade going to zero without a corresponding getPositionByHashV2 populated).
No SL/TP in v1: The intent vocabulary doesn't yet carry stop-loss / take-profit. The contract supports them; the integration is deferred to a cross-venue (PCS Perps + GMX V2 + Hyperliquid) vocabulary RFC.
No Arbitrum: ApolloX has separate deployments per chain. v1 ships BSC only.
Full-close only via intents: PerpCloseIntent(position_id=<tradeHash>) compiles to closeTrade(bytes32). Partial closes (size_usd set) are rejected at compile time — ApolloX's closeTrade(bytes32) selector always flattens the whole position. Strategies persist the tradeHash emitted at open and pass it back as position_id. build_close_transaction(trade_hash) remains available for manual transaction construction.

API Reference¶

almanak.framework.connectors.pancakeswap_perps ¶

Backwards-compatibility shim for pancakeswap_perps.

PancakeSwap Perps is powered by Aster (formerly ApolloX, rebranded March 2025). The canonical connector moved to almanak.framework.connectors.aster_perps (PRD: docs/internal/discussions/aster-dex-integration-20260418.md · VIB-3044).

This shim re-exports every previously-public symbol. Legacy consumers using from almanak.framework.connectors.pancakeswap_perps import ... continue to work unchanged. The shim binds broker_id=2 (PancakeSwap attribution) in every config it constructs, which preserves pre-rebrand behaviour byte-for-byte.

Deprecation: importing from this module emits DeprecationWarning once per process. New strategies must import from aster_perps directly and set protocol="aster_perps" on intents.

SELECTOR_CLOSE_TRADE `module-attribute` ¶

SELECTOR_CLOSE_TRADE = fromhex('5177fd3b')

closeTrade(bytes32)

SELECTOR_OPEN_MARKET_TRADE `module-attribute` ¶

SELECTOR_OPEN_MARKET_TRADE = fromhex('703085c7')

openMarketTrade((address,bool,address,uint96,uint80,uint64,uint64,uint64,uint24))

SELECTOR_OPEN_MARKET_TRADE_BNB `module-attribute` ¶

SELECTOR_OPEN_MARKET_TRADE_BNB = fromhex('b7aeae66')

openMarketTradeBNB((address,bool,address,uint96,uint80,uint64,uint64,uint64,uint24))

CloseTradeReceivedEvent `dataclass` ¶

CloseTradeReceivedEvent(
    user: str,
    trade_hash: str,
    token: str,
    amount: int,
    log_index: int = 0,
)

TradingCloseFacet.CloseTradeReceived — payout leg of a close.

CloseTradeSuccessfulEvent `dataclass` ¶

CloseTradeSuccessfulEvent(
    user: str,
    trade_hash: str,
    close_price: int,
    funding_fee: int,
    close_fee: int,
    pnl: int,
    holding_fee: int,
    log_index: int = 0,
)

TradingCloseFacet.CloseTradeSuccessful — fires when keeper fills a close.

MarketPendingTradeEvent `dataclass` ¶

MarketPendingTradeEvent(
    user: str,
    trade_hash: str,
    pair_base: str,
    is_long: bool,
    token_in: str,
    amount_in: int,
    qty: int,
    price: int,
    stop_loss: int,
    take_profit: int,
    broker: int,
    log_index: int = 0,
)

TradingPortalFacet.MarketPendingTrade — fires on user-signed openMarketTrade.

OpenMarketTradeEvent `dataclass` ¶

OpenMarketTradeEvent(
    user: str,
    trade_hash: str,
    entry_price: int,
    pair_base: str,
    token_in: str,
    margin: int,
    qty: int,
    is_long: bool,
    open_fee: int,
    execution_fee: int,
    timestamp: int,
    log_index: int = 0,
)

TradingOpenFacet.OpenMarketTrade — fires when keeper fills a pending open.

OpenTradeStruct `dataclass` ¶

OpenTradeStruct(
    pair_base: str,
    is_long: bool,
    token_in: str,
    amount_in: int,
    qty: int,
    price: int,
    broker: int,
    stop_loss: int = 0,
    take_profit: int = 0,
)

Python mirror of the Aster openMarketTrade input struct.

All integer fields use the on-wire units the contract expects

amountIn: collateral-token smallest units (wei-equivalent)
qty: 10-decimal fixed-point (e.g. 0.15 BTC = 1500000000)
price: 8-decimal fixed-point limit / acceptable price
stopLoss: 8-decimal fixed-point (0 = no SL)
takeProfit: 8-decimal fixed-point (0 = no TP)
broker: uint24 broker id (PancakeSwap = 2, raw Aster = 0)

ParsedReceipt `dataclass` ¶

ParsedReceipt(
    market_pending_trades: list[
        MarketPendingTradeEvent
    ] = list(),
    open_market_trades: list[OpenMarketTradeEvent] = list(),
    pending_trade_refunds: list[
        PendingTradeRefundEvent
    ] = list(),
    close_trade_successful: list[
        CloseTradeSuccessfulEvent
    ] = list(),
    close_trade_received: list[
        CloseTradeReceivedEvent
    ] = list(),
)

Aggregate view of decoded Aster Perps events in a receipt.

PendingTradeRefundEvent `dataclass` ¶

PendingTradeRefundEvent(
    user: str,
    trade_hash: str,
    refund_code: int,
    log_index: int = 0,
)

TradingOpenFacet.PendingTradeRefund — fires when keeper refunds a pending trade.

PerpOpenOrderResult `dataclass` ¶

PerpOpenOrderResult(
    success: bool,
    error: str | None = None,
    tx: AsterPerpsTx | None = None,
    pair_base: str | None = None,
    margin_token_address: str | None = None,
    qty: int = 0,
    limit_price: int = 0,
    native: bool = False,
    amount_in_wei: int = 0,
)

Adapter output for a compiled PERP_OPEN.

属性：

名称	类型	描述
`success`	`bool`	False if validation fails before tx construction.
`error`	`str \| None`	description when success is False.
`tx`	`AsterPerpsTx \| None`	the built transaction.
`pair_base`	`str \| None`	resolved pairBase address for the market.
`margin_token_address`	`str \| None`	resolved margin-token address (or NATIVE sentinel).
`qty`	`int`	computed on-wire qty (uint80, 10-decimal).
`limit_price`	`int`	computed acceptable limit price (uint64, 8-decimal).
`native`	`bool`	True if the transaction uses openMarketTradeBNB (value-carrying).
`amount_in_wei`	`int`	margin amount in token-wei (matches OpenTradeStruct.amountIn).

encode_close_trade_calldata ¶

encode_close_trade_calldata(
    trade_hash: str | bytes,
) -> bytes

Encode calldata for closeTrade(bytes32).

参数：

名称	类型	描述	默认
`trade_hash`	`str \| bytes`	32-byte position identifier (hex string or raw bytes).	必需

返回：

类型	描述
`bytes`	4-byte selector + abi-encoded bytes32.

encode_get_pending_trade_calldata ¶

encode_get_pending_trade_calldata(
    trade_hash: str | bytes,
) -> bytes

Encode calldata for the getPendingTrade(bytes32) view.

encode_get_position_by_hash_calldata ¶

encode_get_position_by_hash_calldata(
    trade_hash: str | bytes,
) -> bytes

Encode calldata for the getPositionByHashV2(bytes32) view.

encode_open_market_trade_calldata ¶

encode_open_market_trade_calldata(
    trade: OpenTradeStruct, *, native: bool = False
) -> bytes

Encode calldata for openMarketTrade or openMarketTradeBNB.

参数：

名称	类型	描述	默认
`trade`	`OpenTradeStruct`	populated OpenTradeStruct	必需
`native`	`bool`	when True uses openMarketTradeBNB (native BNB margin via msg.value), when False uses openMarketTrade (ERC20 margin, requires prior approve).	`False`

返回：

类型	描述
`bytes`	4-byte selector + abi-encoded tuple.

get_margin_token_address ¶

get_margin_token_address(
    symbol: str, chain: str = "bsc", token_resolver=None
) -> str

Resolve a margin-token symbol (WBNB/USDT/USDC) to its BSC ERC-20 address.

Accepts either a symbol or a 0x-prefixed EVM address (passed through after validation). For native BNB, pass symbol='BNB' or 'NATIVE' and the NATIVE_BNB_ADDRESS sentinel is returned (the caller must use encode_open_market_trade_calldata(native=True)).

Symbol resolution goes through the framework's unified :func:almanak.framework.data.tokens.get_token_resolver so the connector stays in sync with the rest of the token-metadata surface (aliases, on-chain fallbacks, disk cache). The local :data:ASTER_PERPS_TOKENS allowlist is only consulted to reject tokens that the Aster router does not accept as margin; the address for allowed symbols comes from the resolver.

参数：

名称	类型	描述	默认
`symbol`	`str`	Margin token symbol (e.g. 'WBNB', 'USDT', 'USDC', 'BNB', 'NATIVE') or a 0x-prefixed EVM address.	必需
`chain`	`str`	Chain key (default 'bsc').	`'bsc'`
`token_resolver`		Optional `TokenResolver` override; defaults to the singleton returned by `get_token_resolver()`.	`None`

引发：

类型	描述
`ValueError`	If the symbol is not one of Aster Perps' supported margin tokens.
`TokenNotFoundError`	If the resolver cannot resolve an allowed symbol to an on-chain address on `chain` (propagated unchanged).

get_pair_base ¶

get_pair_base(market: str, chain: str = 'bsc') -> str

Resolve a market symbol (e.g. 'BTC/USD') to the on-chain pairBase address.

Accepts either a registered symbol (v1: BTC/USD, ETH/USD, BNB/USD) or a 0x-prefixed EVM address (passed through after validation — lets PerpOpenIntent.market carry the pairBase address directly for synthetic / non-registered markets).

Raises ValueError if the symbol is not registered and is not a valid address. Non-crypto markets (NVDA, TSLA, ...) use synthetic ApolloX-issued pairBases and are deferred to v2 per the design doc; callers wanting to hit them today must pass the pairBase address explicitly.

get_router_address ¶

get_router_address(chain: str = 'bsc') -> str

Return the Aster Perps router address for the given chain.

slippage_to_limit_price ¶

slippage_to_limit_price(
    mark_price: Decimal, slippage: Decimal, *, is_long: bool
) -> int

Convert (mark_price, slippage_fraction) into the price field the router expects.

For longs: acceptable price = mark_price * (1 + slippage) — trader willing to pay up to this. For shorts: acceptable price = mark_price * (1 - slippage) — trader willing to receive down to this.

Returned value is uint64 with 8-decimal scaling.

usd_size_to_qty ¶

usd_size_to_qty(
    size_usd: Decimal, mark_price: Decimal
) -> int

Convert a USD notional to on-wire qty (uint80, 10-decimal fixed-point).

qty = size_usd / mark_price, then scale to 1e10 (see QTY_DECIMALS).

Raises ValueError on non-positive inputs (keeps the connector fail-fast — silently coercing zero/negative sizes into bogus positions is exactly the class of bug the 'no quick patches' guardrail forbids).